Preble County, Ohio - Chapter 18: Railroads, 1881

Chapter 18: Railroads

The Eaton.& Hamilton railroad company was organized under special charter in 1849, and its object was to construct a railroad from Eaton, Preble county, by such route as the directors might select, to Hamilton, Butler county. The late Judge Abner Haines performed very valuable service in securing the charter, and the instrument itself was drawn up by Joseph Hawkins. The road was in operation to Eaton in the spring of 1852, and later in the same year the track was laid and rolling stock run over as far as Westville. The incorporators and first directors of the company, who had their residences in Preble county, were Dr. Lurton Dunham, of Camden; Cornelius Vanausdal, Ellis Minshall, and Alfred Denny, of Eaton. Cornelius Vanausdal was the first president of the company, but held that office less than a year. Jesse B. Stephens was secretary, and Josiah Campbell, treasurer. Abner Haines succeeded Vanausdal as president, and Ezekiel W. McGuire came in as treasurer, and remained in that position of trust for many years. John Woods, of Hamilton, was the third president, and served a little over a year, David Barnett, of Barnett station, succeeding him, and was president of the company for a period of nine years - from 1854 to 1863 - when the railroad passed into the possession of the Cincinnati, Richmond & Chicago railroad company. It is a fact worthy of note that the iron originally laid upon the line of the Eaton & Hamilton railroad was purchased in England. Charles Seymour, a civil engineer in the employment of the company, communicated with his brother in England - Sir Digby Seymour, member of Parliament - who simply negotiated the company's promise to pay, and without using any bonds of the corporation secured all of the iron necessary. It was bought in England for about thirty dollars per ton, and when it reached its destination was worth from sixty to sixty-five dollars. It was carried to New Orleans as ballast by cotton vessels, only a mere nominal sum being charged for freight, and from the southern seaport was sent up the river to Cincinnati. The original subscription to the stock of the Eaton & Hamil- the amount raised in Preble county was about forty thou- Afterwards a much larger amount of money was raised, one hundred and fifty thousand dollars being secured from Cincinnati railroad fund alone.

November 1, 1864, the Eaton & Hamilton company leased for ninety-nine years, renewable forever, that part of the Richmond & Miami railway extending from the point of connection therewith on the State line to the junction or switch about two miles east of Richmond, Indiana; and also the use, in common with the Dayton & Western railroad company, of the remaining portion, extending to the city of Richmond. The company becoming financially embarrassed, suit was brought against it in Butler county common pleas court by Joseph B. Varnum and the co-trustees for foreclosure of mortgage and sale of road. Pending the proceedings, june 1, 1865, an agreement for a reorganization of the company, and the capitalization of its stock and debt, was submitted to its stockholders and creditors, which was acceded to. In pursuance thereof, the road was sold by order of the court, and was purchased by trustees for the benefit of the parties to the agreement of capitalization. May 3, 1866, the reorganization was perfected by filing certificate thereof with the secretary of State, the new company assuming the name of Cincinnati, Richmond & Chicago railroad company. February 18, 1869, this company leased its road and property in perpetuity, assigning also its lease of the Richmond & Miami railway to the Cincinnati, Hamilton & Dayton railroad company, the lessee paying expenses of operating, maintenance of road and property, payment of interest on bonded debt, etc.; any surplus of earnings to inure to the benefit of the Cincinnati, Richmond & Chicago railroad company. The line has since that time been operated by the Cincinnati, Hamilton & Dayton railroad company.

The Piqua branch of the Eaton & Hamilton road 'was projected a numher of years ago, and had it been built would, undoubtedly, have proved profitable in itself, and a great advantage to Eaton and Preble county. The Louisville & Sandusky railroad was one among many of the projects which never reached perfection. Over one hundred thousand dollars worth of work was performed on this line, but the company becoming embarrassed in the great railroad panic of 1855, abandoned the road. Its line will próbably be used some time, and possibly in the near future, by the Evansville, & Bellefontaine & Lake Erie railroad company.

A chapter might be written upon the several railroad entetprises which have been undertaken in this part of the State, and which have fallen through and failed of success from various causes.

The Dayton And Western Railroad

Next to the Eaton & Hamilton or Cincinnati, Hamilton & Dayton railroad, the one in which Preble county has the most interest is the Dayton & Western.

This company was chartered February 14, 1846, to construct a road from Dayton toa point on the State line between Ohio and Indiana to be selected by the directors. Construction was commenced in July, 1848, and the road opened for business October 11, 1853, from Dayton to State line, thirty-eight miles. January 14, 1863, the company leased to the Dayton & Union railroad company the permanent use in common of its track from Dayton to Dodson, fifteen miles, subordinate to the necessary use of the same by the lessor, for the sum of eight thousand dollars yearly, payable in monthly installments, to be supplemented, when the gross earnings of the Dayton & Union railroad shall exceed one hundred thousand dollars per annum, by ten per cent. on all such excess. Under cate of February 4, 1865, the company leased from the Richmond & Miami railway company of Indiana, for ninety-nine years from January 1, 1865, renewable forever, the entire control of terminus on the line dividing the States of Ohio and Indiana, to the point of junction or switch where its road diverges and runs to Eaton and Hamilton; also the use of the remaining portion to its western terminus in the city of Richmond, three miles in all, for the semi-annual payment of two thousand seven hundred and fifty dollars, payable each first of January and July. February 4, 1865, the company entered into an agreement to lease the Little Miami and Columbus & Xenia railroad companies, for ninety-nine years from January 1, 1865, renewable forever, its road, property and privileges, excepting certain leased premises and other property in Dayton, the shop, machinery, tools, etc., and providing that a contract between the Dayton & Western and Columbus & Xenia companies of March 12, 1863, be surrendered and settled up to the above date. The lease was made subject to a contract of lease between the Dayton & Western and Dayton & Union railroad companies of January 14, 1863, by which the latter have the use of the Dayton & Western track from Dayton to Dodson. Also of a contract dated May 26, 1864, between the Dayton and Western and Cincinnati, Hamilton & Dayton railroad companies, relating to the joint

Richmond & Miami railway was also transferred and assigned, the lessees assuming all the stipulations and conditions of the several named contracts of the Dayton & Western company, and agreeing to carry out its several provisions. The Dayton & Western company agreed to procure, to be transferred to the lessees, a majority of its capital stock, not less than one hundred and fifty-five thousand dollars in the aggregate. The lease was made subject to a deed of trust, dated November 1, 1864, to secure the payment of seven hundred and thirtyeight thousand dollars, bonds of the Dayton & Western railroad company, due and payable January 1, 1895, the lessees assuming payment of the semi-annual interest thereon as rental for said property, and also agreeing to indorse and guarantee the payment of the principal and interest of said bonds, the Dayton & Western company agreeing, upon the full payment thereof and the interest thereon, to convey in fee simple to the said lessees of the railroad and property thereby leased. The Columbus & Xenia company assigned its interest in the foregoing lease to the Little Miami railroad company, to take effect December 1, 1868, and it was transferred by that company, together with its own and other leased lines, to the Pittsburgh, Cincinnati & St. Louis railway company, taking effect December 1, 1869, and the road since that time has been operated by that company, in connection with its own and other leased lines.

It was originally intended that this railroad should be located through Eaton, but this measure was defeated by the Dayton and Montgomery county people who had agreed to subscribe or had subscribed in the Dayton & Greenville road, and who were unable or unwilling to assist two companies. Therefore, for the sake of saving a heavy outlay, the two roads were united and used the same track from Dayton to Dodson, and from that point westward the Dayton & Western company constructed an independent line. The incorporators of the Dayton & Western company in Preble county were Joseph S. Hawkins and Nathaniel Benjamin, and in Montgomery county Valentine Winters, Horatio Phillips,

Jonathan Harshman, and Alexander Grimes. The directors in Preble county were Nathaniel Benjamin, Ellis Marshall, A. J. Hawkins, Captain Butler, and Dr. David Cox, of New Paris.